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INCOME TAX APPELLATE TRIBUNAL (BANGALORE BENCH)
SHRI.LAXMI PRASAD SAHU, ACJ, SHRI.SOUNDARARAJAN K, J
M/s. Texo The Builders – Appellant
Versus
ACIT – Respondent
| Table of Content |
|---|
| 1. introduction to appeals. (Para 1 , 2) |
| 2. facts regarding assessee's business. (Para 3 , 4) |
| 3. background of cash payment issues. (Para 5 , 6) |
| 4. submissions regarding section 40a(3). (Para 7 , 8) |
| 5. disallowance of cash payments. (Para 9 , 10) |
| 6. court’s evaluation and rationale. (Para 12) |
| 7. final determination and order. (Para 13 , 14) |
| 8. conclusion of the appeals. (Para 15 , 16) |
ORDER
Per Laxmi Prasad Sahu, Accountant Member :
These two appeals are filed by the assessee against the separate Orders passed by the NFAC vide DIN and Order Nos.ITBA/APL/M/250/2024- 25/1073942400(1) dated 03.03.2025 and ITBA/APL/M/250/2024- 25/1073950534(1) dated 03.03.2025 for Assessment Years 2013-14 and 2014- 15 respectively.
2. The issue raised in both the appeals are identical except the figures. They were heard together and are disposed off by way of this common Order.
3. Briefly stated the facts of the case are that assessee is engaged in the business of real estate development of residential / commercial building. Shri. Nithish Kumar Shetty is the managing partner of the firm. Smt. Shruthi K. Shetty is the other partner in the assessee firm. The assessee filed return of income for the As
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